Scapa comes unstuck

It’s doubtful Scapa (SCPA) chief executive Heejae Chae was braced for the market reaction to these first-half results when he described them as indicative of "a solid trading performance and continued good progress". Trading may be "in line" with full-year expectations and analysts may have retained their bullishness, but shares in the adhesive products business fell a fifth after investors decided that a "challenging macro environment" outweighed the promise of a string of recent acquisitions.